This ASX uranium stock is racing 8% higher on big news

A smiling businessman in the city looks at his phone and punches the air in celebration of good news. Bannerman Energy Ltd ( ASX: BMN ) shares are starting the week in a positive fashion.

In morning trade, the ASX uranium stock is up 8% to $3.24. Why is this ASX uranium stock racing higher?

Investors have been scrambling to buy the company’s shares this morning after it released the results of a scoping study .

Bannerman’s study was evaluating future higher throughput and operating life cases for its flagship Etango Uranium Project in Namibia.Management notes that two future phase options have been evaluated. These are a post ramp-up expansion in throughput capacity to 16 Mtpa (known as Etango-XP) or an extension of operating life to 27 years (known as Etango-XT).Outside this, the company remains committed to advancing Front End Engineering and Design (FEED), offtake marketing, and strategic financing workstreams on […]

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